Vycarb Inc. Dives into the Sustainable Future
Written by Sky Laurent-Kingsley
Vycarb Inc. founder, Garrett Boudinot, pitches at Ocean Startups & The Ocean State event at District Hall Providence, Nov. 7, 2023.
Vycarb Inc.'s journey begins with its founder, Garrett Boudinot, who is driven by a lifelong commitment to addressing climate change. Shaped by early encounters with the impact of climate change during science classes, Boudinot transitioned from the mission of convincing skeptics to seeking solutions during his Ph.D. This pivotal moment marked the genesis of Vycarb, a venture to utilize climate science skills for carbon removal, diving toward better oceans tomorrow. We sat down with Boudinot to learn more:
Can you define carbon removal?
Boudinot: Climate change is due to humans putting more CO2 into the atmosphere. Then, it is taken out and absorbed by oceans and plants. All these different carbon removal technologies are largely accelerating the natural uptake of CO2 by, again, whether it's forests or the oceans or sediments. One of the things that we feel very strongly about is that any carbon removal needs to be permanent. If I take carbon dioxide out of the atmosphere, then in a year or two, it goes back up, which is not helpful to anyone. Our approach is to add hydrogen and oxygen to the carbon dioxide molecule, locking it away so it cannot go back into the atmosphere.
Tell us about your team.
Boudinot: Our team comprises people passionate about climate change across the board. Primarily, I work on the technical side with scientists, engineers, and conservationists. Greg Humphries, our head of Business and Strategy, works closely with our business support. We have a vast network of supportive advisors due to our connections with BlueSwell, SeaAhead, Katapult, and more.
What is the biggest challenge your company has faced?
Boudinot: The carbon dioxide removal industry is incredibly nascent. People have only begun prioritizing paying companies like Vycarb to pull carbon dioxide out of the atmosphere for the past two years. This industry is an incredibly new, uncharted waters, meaning fundraising for building a future market like ours takes a lot of work to obtain. The complexity and strategy behind building a company in this space require tons of experience. Fortunately for us, partnerships and resources across sectors have been possible despite this challenge. SeaAhead and the BlueSwell program have been incredibly helpful in connecting us to those resources. Whether it is blue technology folks or people who can help join us further to different coastal communities, this programming has enabled us to be insurmountable. BlueSwell has helped us create those connections for mentorship, our customer community, and our partnerships. Alissa, CEO of SeaAhead, has even had so many conversations with me and given me so much helpful insight into working within a unique community like the blue economy.
What is the most significant success so far?
Boudinot: Our most significant success has been the first commercial sale of our carbon removal process to Climate Stripe and several pilots that we have deployed in the real world currently removing CO2. As previously stated, there are only so many purchasers of carbon removal out there. Because this is a new field, there is a lot of skepticism about whether carbon removal in this way will play out successfully. We have connections with market shapers leading the way through this new sector. There is a lot of diligence on the validity of the science behind new approaches like ours to signal to the rest of the blue economy market that our approach is real and worth purchasing. Through Climate Stripe's diligence and work through purchasing us, they have opened the door for us in significant ways by telling the rest of the market that Vycarb is backed by real science and is the right company for them to invest in.
How did you connect with BlueSwell?
Boudinot: Last spring, I was connected with Luke Swatisky, Principal at SeaAhead. Luke recommended that we connect with the BlueSwell Program. We went through the application process, and I was impressed by the diligence of the application process. We had many meetings with experts from Bluetech and businesses to see what Vycarb is doing differently in ocean carbon removal. Because our company is rooted in science and measurement, it was clear to BlueSwell that we were serious about our pursuits.
What has your connection with BlueSwell done for your company thus far?
Boudinot: Since Vycarb began the BlueSwell program, we have gained access to many incredible mentors and partners, and connected closer with our customer base. One example of a fantastic mentor is Ed Cesare, Entrepreneur in Residence at SeaAhead. He has given us much guidance and access to other mentors and partners. We recently partnered with the University of Rhode Island, and that was only because of our connections to SeaAhead. BlueSwell has also assisted us in our customer discovery, connecting us in realms like aquaculture and other coastal sectors like ports, marinas, offshore energy, and more. Before BlueSwell, Greg and I would send emails upon emails to folks and would not hear back. But now, with BlueSwell, getting our foot in the door is more manageable. Thanks to the SeaAhead Team and the New England Aquarium, we are seeing a very high return rate. This has allowed us to pursue our next steps, which include further fundraising, more sales of our service, and building more capital.
What is some advice you would give to future Cohort members?
Boudinot: My biggest advice is to utilize the extensive BlueSwell network, including the SeaAhead and New England Aquarium's internal teams. We appreciate the way the BlueSwell program has supported our efforts, especially with mentorship from folks like Alissa, Ed, Julia, Luke from SeaAhead, Matt from the New England Aquarium, and so many more. Don't be afraid to ask questions, and be open to advice.
To learn more information, check out www.vy-carb.com
ABOUT BLUESWELL:
BlueSwell, a partnership between SeaAhead and the New England Aquarium, takes a whole-ocean approach to fighting climate change and advancing the blue economy. The program focuses on bridging gaps between innovators, ocean experts, industries, and the venture community. BlueSwell leverages SeaAhead’s bluetech domain expertise, network, and experience in building companies, and the Aquarium’s 50-plus year history of using marine science to protect the ocean and marine animals to ultimately convert ocean-focused concepts into profitable, sustainable businesses.
To learn more about BlueSwell, click here.